- Tuesday 08 December 2009
Sunshine Coast Council today endorsed an amendment to the 2009-2010 Budget including a reduction in operating revenue but additional funding to bolster capital work programs across the coast.
Division 4 Councillor and Finance Portfolio holder Chris Thompson said council’s continuing commitment to strong financial management included monthly reviews of anticipated revenue and expenditure forecasts in addition to two larger reviews during the financial year.
“The Local Government Finance Standard requires council to amend its budget if any material changes to expected revenue or expenses occur for the year,” Cr Thompson said.
“This latest budget review has identified a reduction of $900,000 in operating revenue that will be managed within existing budgets, with the outcome that the capital works program will be bolstered with the receipt of additional grants and subsidies for a range of projects including Meridan Fields ($455,000), Mons Road traffic signals ($452,000), Tanawha Truck Main to Mountain Creek ($407,000), Cambroon Bridge ($400,000) and the McKinnon Drive Link Road ($364,000),” Cr Thompson said.
“In addition, the efficiency dividend is tracking well with $4.5 million of the required $13.5 million identified at the end of November,” he said.
“Looking forward, the next stage of the State Government's water reform program is a key concern, so in the New Year, we will establish a finance working group to discuss key financial issues prior to the development of the 2010/11 budget,” he said.
The Report tabled at council’s Ordinary Meeting today also identifies seven (7) key measures of Councils financial sustainability.